Published: Sat, August 11, 2018
Business | By Eloise Houston

First Bitcoin (CRYPTO:BIT) Price Hits $0.0112 on Top Exchanges

First Bitcoin (CRYPTO:BIT) Price Hits $0.0112 on Top Exchanges

The US SEC officials have publicly labeled bitcoin as a commodity and in June made it clear that cryptocurrencies would not be treated like securities, The Intercontinental Exchange announced a partnership with major companies, including Starbucks and Microsoft, that will aim to create an open and regulated digital asset ecosystem 'Bakkt'. The bearish pressure is likely to continue to the support level.

Cardano had a market cap of United States dollars 3 billion and a price per ADA of USD 0.11.

Bitcoin price tuned bearish with a nearby underneath $7,260 against the US Dollar.

In the weekly charts, bitcoin (BTC) has now dropped to the $6200, a key support/resistance level before bitcoin rallied to $8500. It's discouraging to see this news break BTC's value more than the Bakkt announcement enhanced it, but the market wants to see something like an ETF, boosting BTC into a legitimate place amongst regulated investment and trading. Although the likelihood is quite good that it will make itself over the $6 400 mark within the next few days, there is a much lower chance that it will be able to push over the $7 000 level in the coming weeks.

XRP (XRP) traded down 3.2% against the dollar and now trades at $0.41 or 0.00005789 BTC. Order books show heavy resistance from the current vantage point up until $6750 if bulls can manage to climb that high. If negative prices continue, there will be longer pitstops between $6,300 and $5,900 as there is solid support in this region. The top five bitcoin cash trading platforms on August 8 include Coinex, Huobi, Okex, Binance, and Hitbtc.

Tom Lee, the CEO of Fundstrat Global, told CNBC in a recent interview that investors still believe that Bitcoin is the best cryptocurrency in a "tough market". At the time of writing, XRP/USD traded 0.46 percent down at $0.41079.

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Hourly MACD - The MACD for BCH/USD is slightly placed in the bullish zone. If bears get their way, the fall to sub-$600 regions will hold decently between $590 through $530 for some time.

Ripple price followed bitcoin's and Ethereum's path to move into a bearish zone against the US Dollar.

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